Canada Lithium Corp. Announces Appointments to its Board of Directors and Executive Team

Canada Lithium Corp. Announces Appointments to its Board of Directors and 
Executive Team 
TSX: CLQ; U.S. OTCQX: CLQMF 
TORONTO, Feb. 26, 2013 /CNW Telbec/ - Canada Lithium Corp. (TSX: CLQ) (OTCQX: 
CLQMF) announced today several executive and Board appointments as it 
completes the transition of its Québec Lithium mine and process plant near 
Val d'Or, Québec, from the construction and commissioning phase to producer 
status. 
The appointments are as follows: 


    --  Peter Secker will assume a key strategic role as the Company's
        new Deputy Chairman of the Board of Directors; he continues as
        Chief Executive Officer;
    --  Chief Operating Officer Charles Taschereau has been appointed
        President of Canada Lithium Corp.;
    --  Halina McGregor, a former VP, Finance, and CFO of Goldcorp and,
        prior to that, Senior VP, Finance, and CFO of Sherritt
        International Corp., has been appointed Canada Lithium's Vice
        President, Finance.
    --  Ernie Eves, a former Premier of Ontario, will become a member
        of the Canada Lithium Board of Directors.

Commenting on the senior management appointments, Chairman Kerry Knoll noted 
that, with the Québec Lithium mine and plant nearing production, the Company 
is preparing for the next stage in its growth.

"We anticipate the Val d'Or operation holds the potential to provide a stable, 
long-term platform enabling the Company to capture growth opportunities. In 
the near term, these include the potential to produce downstream value-added 
products such as lithium hydroxide and lithium metal."

Mr. Knoll added that "Mr. Secker will increasingly focus on implementation of 
the Company's strategic goals of expanding the product offering and, given his 
considerable experience in China and the Far East, nurturing strategic 
relationships and partnerships in the lithium sector."

Mr. Taschereau, who joined Canada Lithium in September 2010, has been 
responsible for the development of the $207-million Québec mine and plant. He 
will oversee the transition from mine development to mine and plant 
operations. First production of lithium carbonate is expected late in the 
first quarter of this year and full production at an annual rate of 20,000 
tonnes is anticipated to be achieved by late 2013.

Prior to joining Canada Lithium, Mr. Taschereau was Vice President of IAMGOLD, 
in charge of the development and operation of the US$450-million Essakane 
Project in Burkina Faso. Mr. Taschereau has more than 20 years of experience 
in operations and project development for various mining companies, including 
positions as Plant Manager, General Manager, Regional Manager and VP 
Operations. Mr. Taschereau has a Masters degree in Mining Engineering and an 
MBA.

The Company appointed Ms. McGregor as Vice President, Finance, to the senior 
management team. Ms. McGregor, a Chartered Accountant, has been Vice 
President, Finance, and CFO with such major companies as Goldcorp Inc., a 
North American-based gold producer listed on the Toronto and New York Stock 
Exchanges; and Sherritt International Corp., a diversified natural resource 
company listed on the TSX with businesses in nickel/cobalt, oil and natural 
gas, power and coal. More recently, Ms. McGregor served as CFO of Calyx 
Transportation, a 1,000-employee logistics and transportation firm that 
operates a network across Canada, the U.S. and Mexico. A McGill University 
graduate, Ms. McGregor is fluently bilingual.

Mr. Knoll also welcomed Mr. Eves to the Board of Directors:

"Mr. Eves is a very timely addition to our Board as we approach the production 
phase of our Québec Lithium Project," Mr. Knoll said. "He has a wealth of 
experience in both the private and public sectors, a seasoned understanding of 
Canadian capital markets, coupled with a background in law."

Mr. Eves was a member of the Provincial Parliament of Ontario for nearly 24 
years, and served in numerous legislative capacities including Minister of 
Finance, Deputy Premier, and Ontario's 23(rd) Premier.

A lawyer by profession, Mr. Eves is a graduate of Osgoode Hall Law School and 
was called to the bar in 1972. He was appointed a Queen's Counsel in 1983.

About Canada Lithium Corp.

The Company holds a 100% interest in the Québec Lithium Project near Val 
d'Or, the geographical heart of the Québec mining industry. It has completed 
construction and is in the commissioning phase of an open-pit mine and on-site 
processing plant with estimated capacity to produce approximately 20,000 
tonnes of battery-grade lithium carbonate annually. Metallurgical tests have 
produced battery-grade lithium carbonate samples. A five-year off-take 
agreement for a minimum of 12,000 tonnes per year was recently signed with 
Tewoo-ERDC, one of China's largest commodities traders. A second off-take for 
up to 5,000 tonnes per year was recently signed with Marubeni Corp., a major 
Japanese commodities trading company. Lithium carbonate is used in lithium-ion 
batteries that power consumer electronics (laptops, tablets, etc.), power-grid 
storage facilities and electric and hybrid vehicles. The Company trades 
under the symbol CLQ on the TSX and on the U.S. OTCQX under the symbol CLQMF.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning 
of Canadian securities legislation. Forward-looking information is based upon 
the Company's beliefs, estimates and opinions as at the date of this press 
release, which the Company believes are reasonable, but no assurance can be 
given that these will prove to be correct. Furthermore, the Company undertakes 
no obligation to update or revise forward-looking information contained herein 
if these beliefs, estimates and opinions or other circumstances should change, 
except as otherwise required by applicable law.

Forward-looking information relates to future events or to future conditions, 
performance or results of operations and reflects current expectations or 
beliefs regarding such matters including, but not limited to, information or 
statements with respect to: (i) the amount of mineral resources; (ii) 
exploration, development and production activities, including information 
regarding the potential mineralization and resources; (iii) the amount of 
future output over any period; (iv) net present value and internal rates of 
return of the mining operation; (v) assumptions relating to capital costs, 
operating costs and other cost metrics; (vi) assumptions relating to gross 
revenues, operating cash flow and other revenue metrics; (vii) assumptions 
relating to future price and demand for lithium and other macroeconomic 
metrics; (viii) exploration and development plans, including anticipated costs 
and timing thereof, time frames for completion, and anticipated time to 
production; (ix) mine potential and expected mine life; and * sources of and 
anticipated financing requirements.

All information other than matters of historical fact may be forward-looking 
information. In some cases, forward-looking information can be identified by 
the use of words such as "seek", "expect", "anticipate", "budget", "plan", 
"project", "estimate", "assume", "continue", "forecast", "intend", "believe", 
"predict", "potential", "target", "strategy", "goal", "may", "could", "would", 
"might", or "will" and similar words or phrases (including negative 
variations) suggesting future outcomes or statements regarding an outlook.

Forward-looking information is based upon certain assumptions by the Company 
or its consultants and other important factors that, if untrue, could cause 
the actual results, performances or achievements of the Company to be 
materially different from future results, performances or achievements 
expressed or implied by such information. Such information is based on 
numerous assumptions regarding present and future business strategies and the 
environment in which the Company will operate in the future, including the 
price of lithium, anticipated costs and ability to achieve goals. Certain 
important factors that could cause actual results, performances or 
achievements to differ materially from those in the forward-looking 
information include, but are not limited to: (i) required capital investment 
and estimated workforce requirements; (ii) estimates of net present value and 
internal rates of return; (iii) future demand and market prices for lithium; 
(iv) receipt of regulatory approvals on acceptable terms within commonly 
experienced time frames; (v) anticipated timelines for the commencement of 
production; (vi) anticipated timelines for community consultations and the 
impact of those consultations on the regulatory approval process; and (vii) 
future exploration plans and objectives.

By its nature, forward-looking information involves known and unknown risks, 
uncertainties and other factors which may cause actual results, performance or 
achievements, or industry results, to differ materially from those expressed 
or implied by such forward-looking information. Some of the risks and other 
factors that could cause actual results to differ materially from those 
expressed in the forward-looking information contained in this press release 
include, but are not limited to, risks and uncertainties relating to: (i) the 
interpretation of drill results, the geology, grade and continuity of mineral 
deposits and conclusions of economic evaluations; (ii) results of feasibility 
studies, and the possibility that future exploration, development or mining 
results will not be consistent with the Company's expectations, (iii) the 
outcome of litigation in which the Company is or may in the future become 
involved; (iv) risks relating to possible variations in reserves, grade, 
planned mining dilution and ore loss, or recovery rates and changes in project 
parameters as plans continue to be refined; (v) mining and development risks, 
including risks related to accidents, equipment breakdowns, labor disputes 
(including work stoppages and strikes) or other unanticipated difficulties 
with or interruptions in exploration and development; (vi) risks related to 
the inherent uncertainty of production and cost estimates and the potential 
for unexpected costs and expenses; (vii) risks related to future commodity 
demand and price and foreign exchange rate fluctuations; (viii) the 
uncertainty of profitability based upon the cyclical nature of the industry in 
which the Company operates; (ix) risks related to failure to obtain adequate 
financing on a timely basis and on acceptable terms or delays in obtaining 
governmental approvals or in the completion of development or construction 
activities; * risks related to environmental regulation and liability; (xi) 
political and regulatory risks associated with mining and exploration; (xii) 
risks related to the uncertain global economic environment; and (xiii) other 
risks and uncertainties related to the Company's prospects, properties and 
business strategy. Although the Company has attempted to identify important 
factors that could cause actual results or events to differ materially from 
those described in the forward-looking information, readers are cautioned that 
this list is not exhaustive and there may be other factors that the Company 
has not identified. Readers are cautioned not to place undue reliance on 
forward-looking information contained in this press release. All 
forward-looking information contained in this press release or incorporated by 
reference herein is expressly qualified by this cautionary note.

Peter Secker, President and CEO (416) 361-2821

Olav Svela, Director, Investor Relations (416) 361-2821 or (416)  479-4355 or 
emailosvela@canadalithium.com

Christine Stewart, Renmark Financial Communications Inc. (416) 644-2020  or 
emailcstewart@renmarkfinancial.com

Please visit the Canada Lithium website atwww.canadalithium.com or copy the 
following link into your Web browser to view our Photo  Gallery: 
http://www.canadalithium.com/s/PhotoGallery.asp. You can also follow us on 
Facebook and Twitter.On our Home Page,  there is also a link to a recent 
video that aired on Discovery  Channel'sDaily Planet program.

Corporate Office: 401 Bay Street, Suite 2010, Box 118, Toronto, ON, M5H  2Y4

SOURCE: Canada Lithium Corp.

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/February2013/26/c8321.html

CO: Canada Lithium Corp.
ST: Quebec
NI: MNG 2575 WNEWS 

-0- Feb/26/2013 12:30 GMT


 
Press spacebar to pause and continue. Press esc to stop.